AP Moller—Maersk has entered into a joint venture with IBM and logistics company Agility, which aims to use blockchain technology to make the companies’ supply chains more efficient and secure.

Maersk, controlled by the eponymous family via AP Moller Holding A/S, wants to create a trade platform using distributed ledger technology, which establishes a shared, set-in-stone record of transactions. It also allows those within a particular network to access the data minutes after transactions take place.

AP Moller-Maersk is to sell its oil and gas assets to French firm Total for $7.45 billion, a decision the matriarch of the founding family described as “difficult, but right”.

AP Moller-Maersk is to sell its oil and gas assets to French firm Total for $7.45 billion, a decision the matriarch of the founding family described as “difficult, but right”.

The agreement follows an announcement late last year by Maersk that it would split its operations into two entities, one focussed on energy (Maersk Oil), the other on container shipping, ports and logistics (Maersk Line).

The McKinney Møller family intends to directly own – partly or as a majority shareholder – several Maersk-related entities following key strategic changes at the Danish transport-to-energy behemoth Maersk Group.

The McKinney Møller family intends to directly own – partly or as a majority shareholder – several Maersk-related entities directly following key strategic changes at the Danish transport-to-energy behemoth Maersk Group.

The announcement comes as the 113-year-old Danish company replaced its chairman of 14 years and posted its second heaviest loss in seven decades.